CRISPR Therapeutics (CRSP) Q4 2025 earnings summary

Executive summary

• Achieved significant progress in clinical and preclinical programs, including positive data for zugo-cel in autoimmune disease and oncology, and expanded global uptake of CASGEVY for SCD and TDT.

• Advanced in vivo liver editing and siRNA collaborations, with multiple pipeline updates expected in 2026.

Financial highlights

• Fourth quarter 2025 revenue was $54 million, with full year 2025 revenue at $116 million, driven by CASGEVY sales.

• Net loss for Q4 2025 was $130.6 million, compared to $37.3 million in Q4 2024.

• R&D expenses increased to $83.5 million in Q4 2025 from $71.7 million in Q4 2024, mainly due to higher licensing fees.

• Collaboration expense rose to $53.7 million in Q4 2025 from $10.4 million in Q4 2024, reflecting the absence of cost deferrals.

• Cash, cash equivalents, and marketable securities totaled $1.98 billion as of December 31, 2025, up from $1.90 billion a year earlier.

Outlook and guidance

• Global regulatory submissions for pediatric CASGEVY expected in H1 2026, with expedited FDA review anticipated.

• Updates on CTX310, CTX321, CTX611, and zugo-cel clinical programs expected in the second half of 2026.

• Clinical trials for CTX460 and CTX340 are planned to initiate in mid and early 2026, respectively.